Salem is the capital of the U.S. state of Oregon, and the county seat of Marion County. It is located in the center of the Willamette Valley alongside the Willamette River, which runs north through the city. The river forms the boundary between Marion and Polk counties, and the city neighborhood of West Salem is in Polk County. Salem was founded in 1842, became the capital of the Oregon Territory in 1851, and was incorporated in 1857.
Salem had a population of 154,637 at the 2010 census, making it the third largest city in the state after Portland and Eugene. Salem is a little more than an hour driving distance away from Portland. Salem is the principal city of the Salem Metropolitan Statistical Area, a metropolitan area that covers Marion and Polk counties and had a combined population of 390,738 at the 2010 census. A 2013 estimate placed the metropolitan population at 400,408, the state's second largest.
The city is home to Willamette University, Corban University, and Chemeketa Community College. The State of Oregon is the largest public employer in the city, and Salem Health is the largest private employer. Transportation includes public transit from Salem-Keizer Transit which operates under the name Cherriots, Amtrak service and non-commercial air travel at McNary Field. Major roads include Interstate 5, Oregon Route 99E, and Oregon Route 22, which connects West Salem across the Willamette River via the Marion Street and Center Street bridges.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Salem, Oregon. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Salem, Oregon, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0%-5.5%%
Very Competitive Commission: 4.5%-4.99%
The median existing single-family home price in the West rose 7.5%, to $372,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of Oregon, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Oregon.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
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As of the census of 2010, there were 154,637 people, 57,290 households, and 36,261 families residing in the city. The population density was 3,228.3 inhabitants per square mile (1,246.5/km2). There were 61,276 housing units at an average density of 1,279.2 per square mile (493.9/km2). The racial makeup of the city was 79.0% White, 1.5% African American, 1.5% Native American, 2.7% Asian, 0.9% Pacific Islander, 10.1% from other races, and 4.3% from two or more races. Hispanic or Latino of any race were 20.3% of the population.
There were 57,290 households of which 33.8% had children under the age of 18 living with them, 45.0% were married couples living together, 13.0% had a female householder with no husband present, 5.2% had a male householder with no wife present, and 36.7% were non-families. 28.8% of all households were made up of individuals and 10.4% had someone living alone who was 65 years of age or older. The average household size was 2.55 and the average family size was 3.15.
The median age in the city was 34.5 years. 25.2% of residents were under the age of 18; 10.8% were between the ages of 18 and 24; 27.6% were from 25 to 44; 24.5% were from 45 to 64; and 12% were 65 years of age or older. The gender makeup of the city was 49.9% male and 50.1% female.
State government is Salem's largest employer, but the city also serves as a hub for the area farming communities and is a major agricultural food processing center. It lies along the I-5 corridor and is within an hour's drive of Oregon's largest city, Portland.
Salem is the home of Kettle Foods, Inc., a maker of potato chips since 1982. Kettle employs 700 in Salem and at a plant in Bowthorpe, England. NORPAC Foods, Inc., is a large food processor in Salem and elsewhere in Marion County. Its brands include Flav-R-Pac and West-Pac frozen fruits and vegetables, and Santiam canned vegetables. Oregon Fruit Products, Inc., has been canning blackberries, marionberries and other fruits in Salem since 1935, with Oregon as its brand name.
In a bid to diversify its economic base, Salem attracted a number of computer-related manufacturing plants in the 1990s. In November 2003, the Sumitomo Mitsubishi Silicon Group (SUMCO), one of these arrivals, announced it would be closing its two silicon wafer plants at the end of 2004, eliminating 620 jobs, and moving production to other plants.
Salem is the headquarters of the Oregon Department of Corrections and home to four state correctional facilities, including the Oregon State Penitentiary, Oregon's only maximum-security prison.
Numerous projects are underway to increase the supply of housing in the downtown core. These projects will provide upscale, low and high rise condominium and office space.
According to Salem's 2015 Comprehensive Annual Financial Report, the top employers in the area are:
|#||Employer||# of Employees|
|1||State of Oregon||21,112|
|2||Salem-Keizer School District||4,192|
|4||Chemeketa Community College||1,623|
|7||City of Salem||1,309|
|10||State Accident Insurance Fund||904|